Consumer confidence takes 'not very encouraging' dip

The difference in consumer confidence levels between August and this month isn't what the Conference Board is calling a good sign heading into the holiday season.

The New York research firm, which has been tracking consumer confidence for more than four decades, said Tuesday that its monthly Consumer Confidence Index – a gauge of economic views and future expectations – fell to 53.1, down from 54.5 in August and 61.4 a year ago. That's after an encouraging uptick in confidence for August that followed two months of declines.

Lynn Franco, director of the board's Consumer Research Center, said in a release that although consumers aren't as pessimistic as earlier this year, they “remain quite apprehensive about the short-term outlook and their incomes.”

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- Posted: 2009-09-29 14:43:32

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